Russell Investments Group Ltd. lifted its holdings in BeiGene (NASDAQ:BGNE) by 160.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,705 shares of the company’s stock after buying an additional 62,597 shares during the period. Russell Investments Group Ltd. owned approximately 0.19% of BeiGene worth $17,086,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in BGNE. Bank of Montreal Can boosted its stake in shares of BeiGene by 3.8% in the 4th quarter. Bank of Montreal Can now owns 16,186 shares of the company’s stock worth $1,581,000 after buying an additional 600 shares during the last quarter. Comerica Bank purchased a new position in shares of BeiGene in the 4th quarter worth approximately $246,000. BlackRock Inc. boosted its stake in shares of BeiGene by 3.8% in the 4th quarter. BlackRock Inc. now owns 357,577 shares of the company’s stock worth $34,942,000 after buying an additional 13,232 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of BeiGene in the 4th quarter worth approximately $182,000. Finally, Artal Group S.A. boosted its stake in shares of BeiGene by 33.3% in the 4th quarter. Artal Group S.A. now owns 300,000 shares of the company’s stock worth $29,316,000 after buying an additional 75,000 shares during the last quarter. Hedge funds and other institutional investors own 67.15% of the company’s stock.
BeiGene stock opened at $198.65 on Wednesday. BeiGene has a 12 month low of $38.14 and a 12 month high of $220.10. The company has a current ratio of 11.18, a quick ratio of 11.12 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $10.75 billion, a P/E ratio of -89.08 and a beta of 0.36.
BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, May 9th. The company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.62) by ($0.41). The company had revenue of $32.54 million during the quarter, compared to analyst estimates of $16.88 million. During the same quarter last year, the firm posted ($1.27) EPS. analysts predict that BeiGene will post -8.4 earnings per share for the current year.
In related news, CFO Howard Liang sold 10,872 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $157.07, for a total value of $1,707,665.04. Following the transaction, the chief financial officer now owns 15,872 shares in the company, valued at $2,493,015.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.10% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on BGNE shares. Maxim Group set a $200.00 target price on BeiGene and gave the stock a “buy” rating in a research note on Thursday, May 10th. Zacks Investment Research upgraded BeiGene from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Tuesday, May 1st. LADENBURG THALM/SH SH restated a “buy” rating and issued a $172.00 target price on shares of BeiGene in a research note on Thursday, March 1st. They noted that the move was a valuation call. ValuEngine upgraded BeiGene from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. Finally, Robert W. Baird restated a “hold” rating and issued a $138.00 target price on shares of BeiGene in a research note on Thursday, March 1st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $173.00.
BeiGene Company Profile
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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